Greens Treasury spokesperson, Senator Nick McKim, has responded to Labor’s proposed changes to the Petroleum Resource Rent Tax (PRRT).
“Labor’s changes to the PRRT have been designed by the gas industry.”
“The government considered two models that would likely have brought in more revenue and discouraged more gas development.”
“But the gas industry didn’t like these models so the government came up with a third model which the gas cabal loves.”
“Under Labor’s proposed changes the more profits gas corporations make, the less extra tax they pay.”
“And Labor’s proposed changes are also designed to encourage more investment in gas.”
“These changes are less than the bare minimum and will continue to fuel the breakdown of the planet’s climate.”
“This is a rerun of Wayne Swan’s Mining Tax.”
“Labor has again designed tax changes in consultation with the resources sector so that the extra tax goes down if profits go up.”